You want to quit your job and return to school for an MBA degree 3 years from now, and you plan to save $7,000 per year, beginning immediately. You will make 3 deposits in an account that pays 5.2% interest. Under these assumptions, how much will you have 3 years from today? $20,993 $24,424 $22,098 $25,645 $23,261
You want to quit your job and return to school for an MBA degree 3 years from now, and you plan to save $7,000 per year, beginning immediately. You will make 3 deposits in an account that pays 5.2% interest. Under these assumptions, how much will you have 3 years from today? $20,993 $24,424 $22,098 $25,645 $23,261
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 34P
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- You want to quit your job and return to school for an MBA degree 3 years from now, and you plan to save $7,000 per year, beginning immediately. You will make 3 deposits in an account that pays 5.2% interest. Under these assumptions, how much will you have 3 years from today?
- $20,993 $24,424
- $22,098 $25,645
- $23,261
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